Mullen's Commercial EV Adoption: A Growing Trend Among College Campuses

Mullen Automotive, Inc. (NASDAQ: MULN) continues to make strides in the commercial electric vehicle (EV) market, with a significant increase in orders from leading universities across the nation. This trend underscores the growing demand for clean energy vehicles within the higher education sector and positions Mullen as a frontrunner in meeting this demand. Universities, as centers of innovation and sustainability, are at the forefront of the national transition to clean energy, and Mullen's advanced commercial EVs align perfectly with their goals of reducing carbon emissions.

Mullen's commercial EV lineup, including the Mullen ONE, Class 1 EV cargo van, and the Mullen THREE, Class 3 EV cab chassis truck, is purpose-built to meet the demands of urban last-mile delivery. Both vehicles are available for sale and in full compliance with U.S. Federal Motor Vehicle Safety Standards, the Environmental Protection Agency, and the California Air Resources Board (CARB) certifications, denoting strict adherence to clean air emissions standards. The Mullen THREE has recently been qualified for a $15,000 incentive through the State of Massachusetts MOR-EV program and a $45,000 cash rebate voucher through the California Hybrid and Zero-Emission Truck and Bus Voucher Incentive Program (HVIP). The Mullen ONE is also eligible for a $3,500 MOR-EV incentive in Massachusetts. When combined with the $7,500 Federal Tax Incentive, both vehicles offer substantial savings for commercial fleet customers.

Mullen's commercial dealer network and support services, such as Foreign Trade Zone (FTZ) status, further enhance the appeal of their EVs to universities. With seven dealers across key markets, Mullen ensures sales and service coverage in the Midwest, West Coast, Pacific Northwest, New England, and Mid-Atlantic regions. Additionally, Mullen's Tunica, Mississippi, commercial vehicle manufacturing center has been granted FTZ status, providing benefits such as deferment of duties owed and elimination of duties on exported vehicles. This FTZ approval strengthens Mullen's position as a reliable and cost-effective EV provider for universities seeking to reduce their carbon footprint and enhance campus operations.



The incentives and rebates offered by Mullen significantly influence universities' purchasing decisions. The Mullen ONE and Mullen THREE are eligible for various incentives, including federal tax credits and state rebates, which reduce their overall cost. For instance, the Mullen ONE is eligible for a $7,500 federal tax incentive, combined with a $3,500 Massachusetts MOR-EV incentive, totaling $10,500 in savings. Additionally, the Mullen THREE qualifies for a $15,000 MOR-EV incentive and a $45,000 HVIP voucher in California, amounting to substantial savings for commercial fleet customers. These incentives make Mullen's EVs an attractive option for universities seeking to electrify their fleets while minimizing costs.

In conclusion, Mullen's commercial EV adoption across college campuses is a growing trend that aligns with universities' sustainability goals. The company's advanced EVs, coupled with their focus on efficiency, cost savings, and performance, make them an ideal choice for campus operations. With a strong dealer network and support services, as well as substantial incentives and rebates, Mullen is well-positioned to continue its growth in the commercial EV market. As universities increasingly prioritize sustainability and clean energy, Mullen's offerings will remain an attractive option for fleet operators seeking to reduce their carbon footprint and enhance operational efficiency.